2024-11-14T18:41:58-05:00 2023-12-31 042666565 John M Monticone CPA 5 High Street Suite 207 Medford MA 02155 990 2023-01-01 042986718 ARTSPACE INC ARTS 74 MAIN STREET MAYNARD MA 01754 GAIL ERWIN PRESIDENT 9788979828 2024-11-15 true true John M Monticone CPA P01257043 7813950024 2024-11-14 X 2023 2024-10-15 13:58:12Z GAIL ERWIN 347306 false X wwww.artspacemaynard.com X 1987 MA PROMOTION THE ARTS BY LEASING REAL ESTATE AND SUB-LEASING IT TO PERFORMING ARTISTS FOR STUDIO AND PERFORMACE SPACE AT BELOW MARKET RENTAL LEVELS AND TO PROVIDE ARTS EDUCATION CLASSES, WORKSHOPS, TOURS AND SIMILAR ACTIVITIES. 8 8 3 20 0 0 293097 227432 144536 119466 334 408 0 437967 347306 0 0 124802 82494 0 13477 537907 143346 662709 225840 -224742 121466 206340 119825 144223 44847 62117 74978 PROMOTION THE ARTS BY LEASING REAL ESTATE AND SUB-LEASING IT TO PERFORMING ARTISTS FOR STUDIO AND PERFORMACE SPACE AT BELOW MARKET RENTAL LEVELS AND TO PROVIDE ARTS EDUCATION CLASSES, WORKSHOPS, TOURS AND SIMILAR ACTIVITIES. false false 174515 96979 Organization has secured a master tenancy of a building which is being sublet for use by artists as studios. 13323 8057 The METAL-ITY Exhibition a dynamic, open-air art exhibition encompassing more than 100 works of art from across New England, interplaying art and nature while offering bountiful opportunities for learning and community celebration. 187838 true true false false false false false false false true false false false true true false false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false true 0 0 true 3 true false false false false false false false false false false false false false false X 8 8 false false false false false false false true false false false true true true true true true true false false MA X X SUCHITRA MUMFORD 9788979828 74 MAIN STREET Maynard MA 01754 X PRISCILLA ALPAUGH DIRECTOR 1.00 0.00 X 0 0 0 STEVE SMITH DIRECTOR 1.00 0.00 X 0 0 0 KRISTEN WEIGHT DIRECTOR 1.00 0.00 X 0 0 0 ARMAND DIARBERKIRIAN DIRECTOR 1.00 0.00 X 0 0 0 ANDREW A CHILD DIRECTOR 1.00 0.00 X 0 0 0 DENISE SHEA CLERK 1.00 0.00 X X 0 0 0 GAIL ERWIN PRESIDENT 1.00 0.00 X X 0 0 0 BILL COHN TREASURER 1.00 0.00 X X 0 0 0 0 0 0 0 false false false 210800 16632 227432 RENT FROM ARTISTS 531120 111409 111409 ART EXHIBITION 531120 8057 8057 119466 408 408 347306 119466 0 408 69783 51973 8905 8905 12711 9467 1622 1622 1568 1568 2800 2800 16424 9703 3771 2950 2279 2279 1853 868 985 6234 6234 24000 24000 6040 6040 5685 5283 402 7652 7652 Utilities 41923 41923 Repairs and Maintenance 13291 13291 Art Workshops and Gallery 11723 11723 Supplies 1874 1874 225840 187838 24525 13477 90400 113375 10009 8359 115940 1650 4800 206340 119825 40000 40000 85000 6000 13223 4847 144223 44847 X 62117 74978 62117 74978 206340 119825 X 121466 -108605 X true X false false false X 2408 11843 48086 293097 163392 518826 311615 310486 243596 152759 105036 1123492 314023 322329 291682 445856 268428 1642318 20000 5000 25000 20000 5000 25000 1617318 1686 400 103 334 408 2931 1686 400 103 334 408 2931 315709 322729 291785 446190 268836 1645249 0.98300 0.98590 0.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10009 8359 1650 1650 Security Deposits Paid 4800 4800 Security Deposits Held 4847 4847 X Footnote for uncertain tax position under FIN 48 (Part X) The organizations management has evaluated the tax positions taken on returns for open years and those expected to be taken on returns for the year ended December 31, 2023. It is managements belief that such tax positions are more likely than not to be sustained upon examination by tax authorities. Accordingly, no liability for uncertain tax positions has been reflected in these financial statements. Returns for tax years beginning with those filed for the year ended December 31, 2020 are open to examination. Douglas Moore Presidents Spouse Operating Capital X 40000 40000 false true true 40000 Committee meeting documentation Part VI line 8b No committee has the authority to act on behalf of the governing body. Form 990 governing body review Part VI line 11 Two weeks before filing, a copy of the 990 for is given to each board of directors for review and discussion. Conflict of interest policy compliance Part VI line 12c ONCE PER YEAR ALL DIRECTORS AND OFFICERS PROVIDE A SIGNED STATEMENT CONFIRMING THAT THEY ARE IN COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. CEO executive director top management comp Part VI line 15a The board of directors establishes the compensation of the organizations Office Manager and Administrative Assistant. The board of directors establishes this compensation package within the range or organizations similar in size and scope of ArtSpace Inc. Governing documents etc available to public Part VI line 19 The organization makes its governing documents, conflict of interest policy and financial statements available to the public, upon request, at the organizations office. Explanation of other changes in net assets or fund balances Part XI line 9 The Organization adjusted its net assets due to the abandonment of leasehold improvements under an old master lease. When the lease could not be renewed, the Organization opted to write off the leasehold improvements, which had an original cost of $237,743 and accumulated depreciation of $129,138, resulting in a write off net book value of $108,605.